Two-Unit Duplex with
For Sale
$199,000
10 E Evans Street, Mayville, NY 14757
Well-maintained village duplex with separate utilities, off-street parking, and individual outdoor spaces for both apartments.
Property Size2,128 SF
Days on Market98
Property Features for 10 E Evans Street
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$825
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,513
Amenities
laundry area
shed
Building Details
Building Size
2,128 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
Century 21 Turner Brokers
(716) 665-9777
Listed By:
William Rollinger · License #40RO0661317
(716) 665-9777
Source:
Homeprocny
Added: May 26
Changed: Aug 31
Last Checked: Aug 3 at 10:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Turner Brokers
Investment Insights
Based on property information with market context.
Built in 1900, this two-unit duplex at 10 E Evans Street in Mayville includes two apartments, each with 2 bedrooms and 1 full bath. Both units feature living rooms with hardwood flooring, kitchens with appliances, second-floor bedrooms, and private exterior entrances. Apartment one includes a rear deck and basement laundry area, while apartment two has a covered side deck and laundry space near the kitchen.
The property has replacement thermal pane windows, copper plumbing, separate electric and gas meters, and individual electrical panels with circuit breakers. Gas forced-air heating equipment was replaced in each unit at 2014. Owner-provided water and sewer service supports the building, and each apartment has off-street parking. A rear basement walkout leads toward the backyard, which includes a large electrically serviced shed with a workbench area. The property is within walking distance of Chautauqua Lake, shopping, a grocery store, restaurants, the library, and churches.
The property has replacement thermal pane windows, copper plumbing, separate electric and gas meters, and individual electrical panels with circuit breakers. Gas forced-air heating equipment was replaced in each unit at 2014. Owner-provided water and sewer service supports the building, and each apartment has off-street parking. A rear basement walkout leads toward the backyard, which includes a large electrically serviced shed with a workbench area. The property is within walking distance of Chautauqua Lake, shopping, a grocery store, restaurants, the library, and churches.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bath
- Built in 1900 with replacement thermal pane windows and copper plumbing
- Separate electric and gas meters with individual circuit‑breaker panels
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,608
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$352,160
$352.2K
Cap Rate 7%
$251,543
$251.5K
Cap Rate 9%
$195,644
$195.6K
Market Conditions
NOI Build-Up for 2,128 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.7K $13.50/SF
− Vacancy
−$3.6K −$1.68/SF
EGI
$25.2K $11.82/SF
− OpEx
−$7.5K −$3.55/SF
NOI
$17.6K $8.27/SF
Area
Chautauqua County, NY
Vacancy
12.44%
Lease Rate
$13.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$352,160
Cap Rate 7%
$251,543
Cap Rate 9%
$195,644
Alternative Uses
Best Use
Multifamily LT 5
$251.5K
$220.1K – $293.5K
NOI $17,608 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$230.2K
$201.4K – $268.5K
NOI $16,111 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$636.9K
$557.3K – $743.1K
NOI $44,586 @ 7.0% cap · market cap 22.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 14757, NY
3,072
Population
2,181
Households
1.4
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
43.7 sq mi
ZIP Area
70
Density / Sq Mi
$63,542
Median Household Income
$40,042
Median Earnings
$677
Median Rent
$179,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained village duplex with separate utilities, off-street parking, and individual outdoor spaces for both apartments.
Where is this duplex located?
The property is located at 10 E Evans Street Mayville, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bath; Built in 1900 with replacement thermal pane windows and copper plumbing; Separate electric and gas meters with individual circuit‑breaker panels
